C CW F C Hale 1. Ce J. Retail in method 1. An owner of goods who ships them to another party who will then sell the woods for the Owner 2 A procedure for estimating inventory where the past gross profit rate is used to estimate the cost of goods sold, which is then subtracted from the cost of goods available for sale to determine the estimated ending inventory. 3. The accounting principle that a company use the same accounting methods period after period so that the financial statements of succeeding periods will be comparable. 4. An estimate of days needed to convert the inventory available at the end of the period into receivables or cash. 5. One who receives and holds goods owned by another for purposes of selling the goods for the owner 6. The method of assigning costs to inventory where the purchase cost of cach item in inventory is identified and used to determine the cost of inventory. 7. The number of times a company's average inventory is sold during an accounting period 8. The required method of reporting inventory at market when market is lower than cost. 9. A method for estimating inventory based on the ratio of the amount of goods for sale a cost to the amount of goods for sale at retail prices. 10. The principle that aims to select the less optimistic estimate when two or more estima haut equally likely